Portland General Electric Declares Quarterly Dividend of $0.50 (NYSE:POR)

Portland General Electric (NYSE:POR - Get Free Report) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Monday, March 24th will be given a dividend of 0.50 per share by the utilities provider on Tuesday, April 15th. This represents a $2.00 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Monday, March 24th.

Portland General Electric has increased its dividend by an average of 5.2% per year over the last three years. Portland General Electric has a dividend payout ratio of 59.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Portland General Electric to earn $3.21 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 62.3%.

Portland General Electric Price Performance

Shares of NYSE POR traded down $0.50 during mid-day trading on Friday, reaching $41.62. The company's stock had a trading volume of 1,662,454 shares, compared to its average volume of 1,000,345. Portland General Electric has a 1-year low of $39.49 and a 1-year high of $49.85. The stock has a market capitalization of $4.39 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.05 and a beta of 0.61. The stock has a 50-day moving average of $42.58 and a two-hundred day moving average of $45.73. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.86 and a current ratio of 0.98.

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Portland General Electric (NYSE:POR - Get Free Report) last announced its earnings results on Friday, February 14th. The utilities provider reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The business had revenue of $824.00 million for the quarter, compared to analysts' expectations of $716.17 million. During the same period in the previous year, the company posted $0.67 EPS. On average, equities research analysts anticipate that Portland General Electric will post 3.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. KeyCorp dropped their price target on Portland General Electric from $52.00 to $51.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. UBS Group reissued a "neutral" rating and issued a $47.00 price objective (down from $52.00) on shares of Portland General Electric in a research note on Friday, January 3rd. Bank of America cut their price target on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating for the company in a research note on Tuesday, December 24th. Finally, Jefferies Financial Group lowered their target price on Portland General Electric from $47.00 to $42.00 and set a "hold" rating on the stock in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $47.38.

Portland General Electric Company Profile

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.